Hon Hai Technology Group, commonly known as Foxconn, has made an unexpected foray into the quiet world of satellite technology. The company recently announced its plans to launch its first two satellites within the company by November 2023. These satellites, named PEARL-1H and PEARL-1C, are Low Earth Orbit (LEO) satellites that utilize wideband communication. Currently, they serve as proof of concept satellites, testing the communication system for the beyond 5G (B5G) era.
In an interview with Bloomberg, Foxconn explained that expanding into the satellite industry is a diversification strategy to spread risks and explore new business opportunities. This move aligns with their previous ventures into electric vehicles, digital health solutions, and robotics, all in search of fresh growth prospects for the company in the next 10 to 15 years.
The development of these satellites is a collaborative effort between Foxconn and National Central University in Taiwan, marking the country’s first LEO satellite. Foxconn has partnered with Exolaunch, a company that provides satellite launch services, to rent SpaceX’s Falcon 9 rocket for their space-bound cargo.
TLDR: Foxconn, known for its technology innovations, is entering the satellite industry with the launch of their first two satellites, PEARL-1H and PEARL-1C. These Low Earth Orbit satellites serve as proof of concept for communication systems beyond 5G. The initiative is part of Foxconn’s strategy to diversify and explore new growth opportunities. The project is a collaboration between Foxconn and National Central University, with satellite launch services provided by Exolaunch and SpaceX’s Falcon 9 rocket.